Warisan to GRS: RM31bil steel project based on assumptions?

Warisan assemblyperson Calvin Chong questioned how the project schedule for the RM31 billion Esteel Enterprise Sabah Sdn Bhd steel manufacturing plant was made based on assumptions.
In a statement yesterday, he accused Sabah Industrial Development and Entrepreneurship Minister Phoong Jin Zhe of misleading the public.
'Phoong said the original schedule for the Esteel Enterprise project, with a total investment of RM31 billion, was...

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3 days ago

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Federation of Malaysian Manufacturing hails removal charges delay

Published on: Friday, June 20, 2025 Published on: Fri, Jun 20, 2025 Text Size: The decision reflects a thoughtful approach to address the challenges faced by the industry, particularly as the manufacturing sector continues to grapple with uprising operational costs. Kota Kinabalu: The Federation of Malaysian Manufacturing, (Sabah) praised DP World for its pragmatic decision to defer the enforcement of the removal charges implementation to Sapangar Bay Container Port's users from June 4, 2025 to July 15, 2025. It was to gauge feedback from port users and extend the free storage period at the port container yard from five (5) days to eight (8) days. Advertisement The decision reflects a thoughtful approach to address the challenges faced by the industry, particularly as the manufacturing sector continues to grapple with uprising operational costs. These additional charges will make import cost more expensive and products less-competitive in the market as the cost would be passed on to consumers. The deferment is necessary to provide industries with the transition period to prepare for the changes. DP World imposed removal charges effective June 4, 2025 with RM45.00 per day for a 20-footer and RM90.00 per day for 40-footer container that exceed the limit of five (5) days at container yard in effort to reduce the yard congestion issue. Increased cargo volume from increased number of vessels calling on Sapangar Bay Container Port (SBCP) coupled with the surge in export containers, of some additional 3,500 per month from China and Korea investors are the main reasons for this congestion. Advertisement To alleviate the yard congestion issue, the Branch urges members and other port users to accept containers during off peak periods, namely, Saturdays, Sundays, Public Holidays and after 5.00pm on working days as a way to ease congestion. FMM hopes with the completion of expansion project aims to double SBCP's capacity by 2027 will ensure prompt and more efficient discharge of import containers and ease yard congestion. FMM Sabah is thankful for the great commitment demonstrated by the Ministry of Industrial Development & Entrepreneurship, under the helm of YB Datuk Phoong Jin Zhe who had been attentive to the plight of port users, and on numerous occasions, personally engaged with the management of DP World and visited the Port facilities. Whilst the yard congestion is a good sign of increased in exports and imports activities, we call on the Government gives greater focus to be accorded to growth of exports by local investors and to rethink future foreign investments until port infrastructure is well-developed and ready to cope with increased cargo volume. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia

New Straits Times

5 days ago

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Palm rises mirroring rival soyoil, crude oil

JAKARTA: Malaysian palm oil futures recovered on Wednesday after losses in the previous session, supported by gains in rival soyoil in Dalian and Chicago markets and higher crude prices. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange gained RM31, or 0.76 per cent, to RM4,095 (US$964.89) a metric ton, as of 0232 GMT. FUNDAMENTALS Soyoil on the Chicago Board of Trade (CBOT) was up 0.44 per cent. Dalian's most active soyoil contract gained 0.95 per cent and its palm oil contract rose 0.54 per cent. Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market. Oil prices ticked up in early trading after ending the previous session up more than 4 per cent on worries that the Iran-Israel conflict could disrupt supplies. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. Cargo surveyor Intertek Testing Services said exports of Malaysian palm oil products for June 1-15 rose 26.3 per cent, compared to May 1-15, while according to independent inspection company, AmSpec Agri Malaysia the shipments rose 17.8 per cent. Palm oil looks neutral in a range of RM4,072 to RM4,113 per metric ton, and an escape could suggest a direction, according to Reuters' technical analyst Wang Tao. MARKET NEWS Concerns over escalating hostilities in the Middle East stayed front and centre in markets, sending oil prices higher and investors rushing for the safety of US Treasuries and the dollar while dumping stocks.

Focus Malaysia

6 days ago

• Focus Malaysia

Sabah named most outstanding state, N. Sembilan recognised as most progressive at IBR ASEAN Awards 2025

SABAH and Negeri Sembilan have emerged as top performers in governance and development, earning national recognition for their strategic planning, economic progress and public service delivery. Their achievements will be formally recognised at the upcoming International Business Review ASEAN Awards (IBRAA) 2025 where both states are set to receive top honours for their exceptional contributions to Malaysia's growth story. Sabah will receive the 'Most Outstanding Malaysian State' award for 2024 while Negeri Sembilan has been recognised as the 'Most Progressive State'. The awards are part of a new initiative to acknowledge state-level excellence in governance and development in the prestigious IBR ASEAN Awards which sees participation from renowned companies and government agencies across Southeast Asia and beyond. Traditionally focused on honouring corporate leadership and achievements in public-private partnerships, IBRAA has expanded its scope this year to include state governments that have demonstrated exceptional performance and commitment to the people. The selection of award recipients was based on information collated from states that submitted the necessary documentation. Case studies were developed by Expert Advisors, a consultancy firm appointed to conduct this survey, which then compiled detailed reports on state-level initiatives. The final decisions were made by an adjudication panel consisting of experienced professionals and regional figures. Award with merit Sabah was selected as the 'Most Outstanding State' based on its achievements in economic growth, infrastructure, environmental sustainability, public welfare and good governance guided by the structured and far-reaching Sabah Maju Jaya (SMJ) development plan. Sabah is now firmly positioning itself as an industrial state by 2040 with available data backing that ambition. The state recorded the highest manufacturing sector growth rate in Malaysia at 4.4% in 2023, recovering from a contraction the previous year. Foreign direct investment (FDI) in Sabah saw exponential growth by soaring from RM132.7 mil in 2023 to over RM1.078 bil in 2024. A key industrial hub, the Kota Kinabalu Industrial Park is now operating at 90% occupancy, housing 288 investors and creating over 14,600 jobs for Sabahans. Major players such as South Korea's SK Nexilis (M) Sdn Bhd and China's SBH Kibing Solar New Energy (M) Sdn Bhd have invested more than RM7 bil in Sabah, drawn by the state's industrial potential and streamlined processes. 'These investors were able to obtain all the necessary approvals and begin construction within about seven months. This is something that has never been done before,' said Datuk Phoong Jin Zhe, Sabah's Minister of Industrial Development and Entrepreneurship. SBH Kibing Solar New Energy (M) Sdn Bhd chairman William Chen said the group's decision to invest in Sabah was due to its strategic logistics location at the heart of Southeast Asia, access to vital resources like silica sand and natural gas, and the incredible support provided by the state government. In terms of public development, Sabah has been proactive. The Rumah Mesra SMJ housing programme which targets the hardcore poor will see 3,000 units built this year. The state is also investing RM470 mil into the education sector this year with a clear focus on youth development. In environmental governance, 62% of Sabah or 4.6 million hectares, remains under forest cover. The state has also strengthened legislation and institutional frameworks, introducing 83 strategies and 295 actions to manage land and marine resources. 'Under Chief Minister Datuk Seri Hajiji Noor's leadership, long-term non-compliant licenses have been terminated and half a million hectares returned to the state government,' said Datuk Frederick Kugan, Chief Conservator of Forests of the Sabah Forestry Department. 'This is a major achievement for sustainable governance.' Sabah's conservation efforts are further supported by its progress on protected areas. It has expanded its Totally Protected Areas (TPAs) from 12% in 2007 to 27% in 2024, bringing it closer to the 30% global target under the Kunming-Montreal Biodiversity Framework. Apart from these achievements, the state had also signed a Commercial Collaboration Agreement (CCA) with state-owned oil giant PETRONAS which resulted in more than RM3 bil in oil and gas (O&G) payments in 2023. Tourism also showed a strong rebound with international arrivals and tourism receipts increasing by 47% following the pandemic. Meanwhile, the state has seen improved basic infrastructure with a rural electrification rate of 96.83% with full coverage targeted by 2030. To reinforce the rigour of the awards process, the IBRAA 2025 organisers have clarified that evaluation was based on independent case studies and verifiable performance data, not on paid submissions. 'What impressed us most about Sabah's transformation was the sheer depth and structure of the SMJ plan,' said Datuk Seri Azman Ujang who is chairman of the Adjudication Panel. 'It's not just a vision, it's a detailed, well-monitored strategy that touches on nearly every facet of development.' He added: 'Sabah submitted one of the most comprehensive dossiers we've ever received. That level of care and preparation speaks volumes about the calibre of leadership and governance in the state.' 'Most Progressive State' Meanwhile, Negeri Sembilan was recognised as Malaysia's Most Progressive State for its long-term development planning and consistent growth efforts. The state's transformation is anchored by the Rancangan Struktur Negeri Sembilan 2045 (RSNS 2045) and Malaysia Vision Valley (MVV) 2.0, both of which aim to strengthen regional connectivity and economic diversity. Negeri Sembilan is currently home to more than 60 industrial parks, many of which are nearing full capacity, with over 900 companies from more than 20 countries currently operating in these parks. When contacted, Negeri Sembilan Tourism, Arts and Culture executive councillor Nicole Tan Lee Koon said she was proud that her state had been recognised as Malaysia's Most Progressive State. 'This recognition is a testament to the state leadership that saw the successful implementation of RSNS 2045 and MVV 2.0 which is expected to contribute up to 15% of Malaysia's GDP and create over 600,000 jobs,' revealed Tan who is also the two-term Bukit Kepayang state assemblywoman. The awards will be presented at a gala event scheduled to be held on July 19 at the Sabah International Convention Centre (SICC). Themed Reimagining ASEAN, the event coincides with Malaysia's ASEAN Chairmanship for 2025 and is expected to attract government leaders, diplomats, business executives and other distinguished guests from the region. The IBRAA 2025 gala is expected to be attended by key government and corporate figures from across ASEAN. As it is, Sabah seems to be on the brink of a major transformation. If the current momentum continues, we can expect to see a new Sabah which is strong, strategic and firmly anchored in its promise to the rakyat. With continuity and time, Sabah can become one of the region's most dynamic success stories. – June 17, 2025 Post-script: The IBR ASEAN Awards secretariat serve not only to celebrate past achievements but also to inspire continued excellence among ASEAN's public and private sector leaders. Nominations are still open for other categories in the IBRAA 2025, including corporate excellence, public-private partnerships and leadership awards. Organisations across ASEAN are invited to submit their entries by June 30. Nominations can be submitted online at For more information, the organisers can be reached at 012-861 9126 or 012-433 9914. Main image credit: